Archive for March, 2010
Live In The Historic Houston Galleria Apartments
A shipwrecked Spanish soldier Alvar Nunez Cabeza de Vaca was the first European to visit the Houston area. He lived and traded among native Karankawa Indians from 1528 to 1534. It was not until 1823 however in the first years of Angelo American migration to Texas that a trading post was built at the junction of Buffalo Bayou and Bray’s bayous by John R. Harris a New Yorker. The townsite laid out there in 1826 was named Harrisburg. It eventually was to become part of modern Houston.
Harrisburg thrived as a lumber milling and shipping town. For a few weeks early in 1836 it was the capital of the newly proclaimed Republic of Texas. In April 1836 shortly before the Texan victory at the nearby battle of San Jacinto the town was burned and occupied by Mexican troops.
Two real estate speculators the brothers John K. and Augustus C. Allen then founded a new town several miles up Buffalo Bayou at the mouth of White Oak Bayou. They shrewdly named it after the Texan war hero Gen. Sam Houston. While Harrisburg lay temporarily in ruins an energetic publicity campaign brought hundreds of settlers to Houston. The city was incorporated on June 5 1837. James Holman was the first mayor. From 1837 until 1839 and again in 1842 it was the capital of the Republic of Texas.
As Houston became a leading outlet for the cotton lumber and sugar produced in the surrounding region regular steamboat service to the Gulf was begun on Buffalo Bayou. By the 1850′s the city had become an important railroad center. In 1866 it annexed Harrisburg. During the Civil War Houston prospered as a Confederate port and military headquarters but suffered no war damage. Afterward in 1865 it was occupied by Union troops.
The first free public schools were set up in 1876. Electric street lighting was introduced in the 1880′s. The first electric streetcars began operating in 1891. During these years yellowfever epidemics periodically swept the area.
Houston began to emerge as a modern metropolis after the discovery of the Spindletop oil field near Beaumont in 1901. As a result of successive waves of oil discoveries at nearby Humble in 1904 and then elsewhere in eastern Texas there was a massive growth of industry in Houston. Industrialization especially in fields related to petroleum refining and the production of petrochemicals was most rapid during World Wars I and II.
The Port of Houston first organized in 1841 also grew rapidly. Periodic straightening widening and deepening of Buffalo bayou culminated in the opening of the first Houston Ship Channel in 1876. Devastation in the Port of Galveston by hurricane floods of 1900 resulted in the diversion of considerable shipping to Houston. This led to further dredging of the channel to 18 feet by 1908. However the Port of Houston was not able to receive deep draft ocean vessels until the Turning Basin and a 25 foot deep channel to the Gulf were opened to traffic in 1915.
Meanwhile Houston’s population was booming. For many decades the city had grown quite slowly with a sevenfold increase to 292352 inhabitants Houston had become the largest city in Texas. By 1950 it was the largest in the entire South.
About the writer: Houston Galleria Apartments provides information on Galleria Apartments Houston Galleria Real Estate. His company will help you to deal on Houston Galleria Apartments
Leverage Orlando Loan Modifications To Get Homes For Pennies On The Dollar
As some of you know I like to buy defaulted mortgages when affiliates find deals they don’t know what to do with. Well I just had a fax come across my desk from an affiliate who participates in our Mastermind Coaching program. As part of this program we talk about all different ways of making money from bad debts. A defaulted mortgage is a bad debt. Most people think of a defaulted mortgage as a foreclosure. It all means essentially the same thing.
In this case we have a seller carry back mortgage on a 2 bedroom 2 bath house in San Antonio Texas. The sale price of the property was 78000 with 2000 down by the buyer when they purchased the property. The seller of the house decided to act like the bank and take back a mortgage so that they could get monthly payments. What often happens in cases like these is that the seller of the house sooner or later needs a lump some of cash instead of monthly payments. They may need the money to pay bills buy a car travel or even for the purchase of a new property. Either way the seller of the property note owner needs cash and is often willing to sell their note at a discount. We are in the negotiating phase with the note owner to buy their note for 18000.
Wait a minute you might say! Why would someone sell their 76000 note for just 18000? The answer is pretty simple. This note is in default. In other words the current owner of the house person making the payments is behind in their mortgage by 8 months. Their monthly payment is 647.47. Multiplied times 8 months and they owe a minimum of 5179.76 in back payments not included late fees.
The note owner does not know how to foreclose or have the money to pay an attorney to handle the foreclosure. They have been living off the monthly payments but now they have had no income for the past 8 months. The note owner is now late on their bills because they do not have the income they were promised when they sold their property.
So let me jump to the end and tell you the plan.
When I or you buy the paper mortgage on a property I do not need to do a short sale yet I can make as much money or more as someone who does a short sale. I will cover this topic at my live 3Day Foreclosure and Bad Debt Academy.
Here is what happens. We will complete the purchase of the note for 18000. We will then contact the homeowner actually we will get this part done even before we complete the purchase and offer our own forbearance agreement. Meaning we will not foreclose on the property. As part of the forbearance agreement we will get a Deed in Lieu of Foreclosure placed in escrow. It must go in escrow because we do not own the mortgage yet. We will agree with the homeowner that if they sign the Deed in Lieu of foreclosure to the house we will not foreclose remember we are buying the note and we will end up being the bank. The homeowner agrees to move from the property and we agree to keep the foreclosure from appearing on their credit report. We can even give them cash to help them move if they need it again we are the bank; we are not doing a short sale.
When we complete the purchase for the 18000 we transfer the Deed that was held in escrow and now we own a 78000 house value in 2004 for just 18000. We can turn around and rent the property out flip to an investor or sell it a full value to an end buyer. We have a 60000 profit from knowing how to shuffle paper.
In this deal we combined two techniques. We used our own forbearance agreement with buying a note from the bank note owner.
About the writer:nbsp;nbsp;Jason Keller has extensive experience in real estate valuation and property tax assessment. Mr. Keller is the Director of Property Tax Services within the Private Lending Group at Resolution Finance LLC.
Investing In A Panama Property
Panama the exotic country is situated in Latin America has attracted large masses towards its picturesque splendor and lavishness. People here feel relaxed and satisfied due to favorable atmosphere that this remarkable country has. Along with good climatic conditions Panama has many other benefits that has fascinated potential investors to invest in the real estate market in Panama. The prospering financial system of Panama has made this country an ideal location where successful industrialists and investors can make large investments as they are sure of improved and highly beneficial returns. Panama is a perfect country due to many reasons and so most of the people feel satisfied by Investing in Panama property. What makes Panama a perfect site in the world? To answer this there are various reasons why people actually feel so. Here are some of the genuine reasons why investors feel satisfied in investing in Panama property like: Remarkable tourist destination: Panama is one of the most desired tourists and holiday destination for many. Almost all the people of the world would feel deficient if they never visited this breathtaking country once a lifetime. The remarkable sites like man made Panama Canal tropical forests lavish peaks fresh rivers and Caribbean beaches are few superb sites worth enjoying. You can easily contact to other main cities in Latin America as there are several direct flights that connect Panama to the world. Sports: The major attraction in Panama is an interesting sporting events that take place here regularly. From water sports to golf you will enjoy the adventurous sporting activities. This will actually attract the sports enthusiasts around the world. Safety and Generousity: It goes without saying that Panama is highly safe country as well as the friendly and friendly public here regularly attract the tourists as they feel their own home town that’s why they think about investing in Panama. Several companies and industries have previously invested in Panama. Welldeveloped infrastructure: Panama has well developed infrastructure and hence it becomes too easy to carry on trade with other countries. You will also see massive buildings malls hotels and restaurants as well as professional banking and existence of improved technology. This is what makes Panama a perfect site for investing in property. Convenient transportation facilities: You will find a number of choices for transport that makes you feel comfortable while traveling. You can reach your destination in just a few dollars and this is comparatively Economical than other high profile countries in America. Cost effective living: Panama is known for its reasonable stay as the regular goods and general services are reasonably priced cutting down your costs to a large amount. Your electricity bill phone bills water bills and other general expenses like hotels restaurants etc. are relatively lower and affordable. Thus you can benefit from all the comforts and lavishness without wasting much. Other amenities: Schools banks banks discounts for pensioners and retirees are some of the amenities that you need not worry about. The Panamanian government takes care of everything to make your life comfortable. Finally the favorable weather helps people to adjust easily in this exquisite country. So why wouldn’t potential investors think about investing in property in Panama? They truly can’t defy themselves in doing so.
About the writer:nbsp;nbsp;Looking for investment opportunities in Panama it’s a great idea take help from Panama property
